Some of the cryptocurrency ads will be allowed to make a comeback on the Facebook.
Recently, the company has been decided to reverse its ban against the advertisement, but with a couple of conditions, that the advertisers must be pre-approved. And the second one, no any advertisement promoting the initial coin offerings, which are further connected to the scams that will be permitted.
In January, Facebook originally announced the ban of cryptocurrency ads, near the elevation of the cryptocurrency rage. According to the Facebook, some of the ads were misleading the potential investors with the claims of no-risk policy. Some others mentioned which using your retirement funds to buy the Bitcoin, since which has dropped from $11,000 in value to the $6,100.
Facebook is explaining in a blog post that it’s a big decision to lift the ban. And in the few last months, we have seemed the best way to refine this policy and also to allow some ads while working to ensure that they are secure and safe.
The company also added that not everyone who wants to advertise would easily be able to do so. To register with it, the advertisers must need to apply, that asks for the official documentation including the businesses licenses and whether any of the applicants have been listed on any of the public stock exchange.
Despite having the limitations, the changes will open a door for the cryptocurrency providers only to promote their services and also products over a mainstream platform, but at that time, when the interest in the market has been cooling. Some other major sites such as Google and Twitter have strict bans against the cryptocurrency advertisement.
However, the Facebook moderately reversed the ban when the company itself has taken a dedicated interest in the blockchain technology; the blockchain technology has become the backbone of many popular cryptocurrencies on the market.
In the previous month, a Facebook executive David Marcus has announced that he formed a small team to explore that how to select the best leverage blockchain across the Facebook which is starting from the scratch.